Kathmandu. Nepal Life Insurance Company Limited, Nepal’s most trusted life insurance company, has achieved another historic milestone by receiving the Gold Award under the National Best Presented Annual Report Award 20 TAG_OPEN_strong_14 25 on the proud occasion of its 25th anniversary.
Institute of Chartered Accountants of Nepal (ICAN) The prestigious award was received by Mr. Prabin Raman Parajuli, Chief Executive Officer of Nepal Life Insurance Company Limited and Mr. Amit Kumar Kayal, Deputy Chief Executive Officer, Nepal Life Insurance Company Limited amidst a special ceremony held at Hotel Yak & Yeti in Kathmandu on July 30, 2083.
The award was presented in recognition of the outstanding presentation of the annual financial report for the fiscal year 2081/82, financial transparency, adequate disclosure, effective adherence to Nepal Financial Report Standards and other accounting standards, and high commitment to corporate governance.
The award is a testament to Nepal Life Insurance being continuing best practices by embracing financial accountability, transparency and good governance as an institutional culture.
Speaking on the occasion, Mr. Prabin Raman Parajuli, Chief Executive Officer, said, “The award is a matter of pride for the entire Nepal Life Organization. He also expressed his sincere gratitude to the Board of Directors and Directors for providing guidance for this success, the customers insured who have been associated with the company, agents who have been the backbone of the company’s success, dedicated employees, honorable shareholders, regulatory agencies and all stakeholders for providing guidance.
As per the latest statistics, the company has so far issued more than 52.4 lakh policies and has provided financial security to millions of Nepali families. The company, which manages life insurance fund of more than Rs 267 billion, has so far proved its commitment to its insured and dependent families by paying more than Rs 113 billion claims.
Similarly, the company has played an important role in the national economy by providing revenue and tax of more than Rs 17 billion to the government so far. ICRA has also claimed to be the first life insurance company in Nepal to receive Double A Minus Credit rating from ICRA Nepal for its financial stability and strong market position and high capacity to pay its financial obligations on time. With its 197 offices in all 77 districts (central offices, provincial offices, branches and sub-branches), more than 65,000 active agents throughout the country, strong corporate governance, financial transparency and high commitment to the customers, Nepal Life has been steadily consolidating its leadership position as the first-choice insurance company of Nepal.
Nepal Life expects to remain committed to building a better future and economic security for the people of Nepal with trust, transparency and excellent service as its main foundation in the days ahead.
